Funding arb · Price arb /

ENA

all ENA markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.072%

Price spread now: ApeX Omni against BloFin+0.332%7-day average −0.030% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on BloFin Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days−0.449%−$45 on $10k

Price spread, last 4 days (all we have)−0.931%−$93 · spread now +0.332%, 7d avg −0.030%

Together, before fees−1.381%−$138 on $10k · with fees, hour by hour

The price spread pays, funding is against you. ApeX Omni is 0.363% dearer against BloFin than usual: you sell high and buy low (spread +0.332% now, against its 7-day average of −0.030%): +$36 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin ENA-USDT	0.2076	0.0340	pay 0.0170% / 4h	52m 13s	$4.6M	$3.4M	75x
Short	ApeX Omni ENAUSDT	0.2083	0.0100	get 0.0013% / 1h	52m 13s	$18K	$650K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against BloFin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BloFinbpFee ApeX OmnibpOrdersPrice spread, now +0.332%Rate

Funding earned: −$50.4
Price spread: +0.332% → −0.030%: $36.28
Slippage, 4 orders: −$27.87
Fee BloFin: 6 bp × 2 orders: −$12
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$63.99
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; ApeX Omni: live order book, 54 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BloFin live order book, 4 min ago	0.24 bp	8.5 bp −$9	19.1 bp −$191	74.5 bp −$7,447	doesn't fit
Sell ApeX Omni live order book, 54 min ago	7.19 bp	16.3 bp −$16	131.6 bp −$1,316	doesn't fit	doesn't fit

ENA on 42 exchanges

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_ENA_USDC	−0.0165%	4h	0.2073	−0.145%	$43K	$16K	10x	as long as short
Kraken Futures PF_ENAUSD	−0.0100%	1h	0.2076	−0.017%	$2.6M	$3.0M	50x	as long as short
Deribit ENA_USDC-PERPETUAL	0.0000%	1h	0.2074	−0.087%	$53K	$1.1M	50x	as long as short
gTrade (Gains Network) ENA/USD	L +0.0004% / S −0.0004%	1h	0.2074	−0.087%	$80K	—	150x	as long as short
01 Exchange ENAUSD	+0.0016%	1h	0.2073	−0.130%	$4K	$60	10x	as long as short
Injective ENA/USDC PERP	+0.0033%	1h	0.2122	+2.206%	$734	$57K	5.5x	as long as short
Bitget ENAUSDT	+0.0036%	4h	0.2073	−0.149%	$47.0M	$54.2M	75x	as long as short
Phoenix ENA	+0.0038%	1h	0.2089	+0.612%	$13K	$290K	10x	as long as short
Lighter ENA	+0.0096%	1h	0.2076	−0.005%	$5.0M	$12.0M	10x	as long as short
Popdex ENAUSDT	+0.0096%	1h	0.2074	−0.101%	$55K	$386K	50x	as long as short

Show all 42 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex ENA-USD-PERP	+0.0100%	8h	0.2072	−0.206%	$46K	—	10x	as long as short
Nado ENA-PERP	+0.0100%	1h	0.2074	−0.084%	$536K	$1.7M	10x	as long as short
Hyperliquid ENA	+0.0100%	1h	0.2075	−0.043%	$110.8M	$74.1M	10x	as long as short
Aster ENAUSDT	+0.0100%	4h	0.2075	−0.046%	$1.2M	$3.3M	50x	as long as short
Pacifica ENA	+0.0100%	1h	0.2073	−0.159%	$374K	$498K	10x	as long as short
Binance ENAUSDT	+0.0100%	4h	0.2074	−0.092%	$123.8M	$399.7M	75x	as long as short
Bybit ENAUSDT	+0.0100%	4h	0.2074	−0.120%	$83.2M	$182.2M	50x	as long as short
OKX ENA-USDT-SWAP	+0.0100%	4h	0.2074	−0.096%	$20.4M	$95.9M	50x	as long as short
Ondo Perps ENA-USD.P	+0.0100%	1h	0.2079	+0.125%	$37K	$310K	5x	as long as short
Arcus ENA-USD	+0.0100%	1h	0.2075	−0.053%	$77K	$215K	10x	as long as short
Bulk ENA-USD	+0.0100%	1h	0.2083	+0.309%	$102K	$11K	10x	as long as short
Gate ENA_USDT	+0.0100%	4h	0.2075	−0.067%	$14.0M	$26.6M	50x	as long as short
MEXC ENA_USDT	+0.0100%	4h	0.2074	−0.096%	$42.7M	$39.7M	200x	as long as short
KuCoin ENAUSDTM	+0.0100%	4h	0.2075	−0.043%	$24.7M	$14.3M	75x	as long as short
BingX ENA-USDT	+0.0100%	4h	0.2074	−0.087%	—	$29.3M	—	as long as short
Backpack ENA_USDC_PERP	+0.0100%	1h	0.2076	−0.010%	$400K	$459K	5x	as long as short
Variational Omni ENA	+0.0100%	4h	0.2080	+0.202%	$2.8M	$7.6M	—	as long as short
edgeX ENAUSDC	+0.0100%	4h	0.2082	+0.290%	$239K	$6.6M	20x	as long as short
GRVT ENA_USDT_Perp	+0.0100%	4h	0.2084	+0.368%	$349K	$4.1M	10x	as long as short
ApeX Omni ENAUSDTshort	+0.0100%	1h	0.2083	+0.332%	$18K	$650K	50x
Polymarket Perps ENA-USD	+0.0100%	1h	0.2074	−0.111%	$119K	$2.8M	10x	as long as short
SunX ENA-USDT	+0.0100%	4h	0.2024	−2.490%	$1K	$930K	20x	as long as short
SoDEX ENA-USD	+0.0100%	1h	0.2074	−0.101%	$6K	$5K	10x	as long as short
HTX ENA-USDT	+0.0100%	4h	0.2076	+0.005%	$267K	$742K	50x	as long as short
Phemex ENAUSDT	+0.0100%	4h	0.2075	−0.053%	$1.8M	$9.2M	50x	as long as short
Extended ENA-USD	+0.0104%	1h	0.2073	−0.165%	$1.6M	$4.5M	50x	as long as short
Aevo ENA-PERP	+0.0104%	1h	0.2074	−0.105%	$73K	$4K	3x	as long as short
dYdX ENA-USD	+0.0118%	1h	0.2073	−0.160%	$137K	$17K	5x	as long as short
BloFin ENA-USDTlong	+0.0340%	4h	0.2076	long leg	$4.6M	$3.4M	75x
Reya ENARUSDPERP	+0.0411%	1h	0.2073	−0.128%	$1K	—	15x	as long as short
GMX ENA/USD [ETH-USDC]	L +0.0519% / S −0.0754%	1h	0.2074	−0.093%	$57K	—	100x	as long as short
Coinbase International ENA-PERP-INTX	+0.0520%	1h	0.2078	+0.101%	$760K	$1.7M	50x	as long as short